Funding in fashion startups has risen from under $25 million in 2010 to over $980 million in 2016 year-to-date. From men’s underwear to heated socks and children’s smart shoes, the new wave of startup fashion brands is coming to your closet.
Many of these startups are aspiring to create the lifestyle brands of tomorrow by using new materials, new tech and big data. The use of tech and data does not cover just the creations but also the supply chains, the inventory, better management and product decisions. As these fashion startups are “born” in the modern times, most of them – if not all – are tech-infused.
All fashion startups in our top 10 use at least one tech based technology. Some others employ IBM’s artificial intelligence to predict the customer’s behaviours. Others use 3d printing and graphene-based fabrics to create the materials of tomorrow.
Like it or not, the fashion industry is going to be reshaped by the new wave of fashion makers in their quest of creating the fashion brands of tomorrow.
1. Top 10 Fashion Startups 2016 – Warby Parker
Warby Parker is an online retailer for discount prescription glasses. The startup lets users get glasses frames via the mail which they can try on. Funding to date, $215.9 million.
2. Top 10 Fashion Startups 2016 – Bonbos
Bonobos is a men’s clothing brand sold just through online verticals. Custom made shirts, trousers, suits and other apparel. Funding, $127.7 million to date.
3. Top 10 Fashion Startups 2016 – Stance
Stance is a simple “sock” startups that slowly morphed into one a cultural icon thanks to intelligent, targeted digital marketing. Funding, $124.6 million to date.
4. Top 10 Fashion Startups 2016 – Indochino
Indochino is a provider of custom menswear, online based. Indochino lets you customise and order a high-class suit – made to order – in as little as 10 minutes. Funding, $49.5 million to date.
5. Top 10 Fashion Startups 2016 – Alex and Ani
Alex and Ani is an affordable fashion jewellery brand, popular for their “Positive Energy” bangles made from recycled materials and sold through 45 stand-alone stores and over 1.000 wholesale outlets across the U.S. Funding to date, $27.4 million.
6. Top 10 Fashion Startups 2016 – Frank & Oak
Frank & Oak is a menswear brand that designs, manufactures, and sells premium clothing and accessories. Funding to date, $20 million.
7. Top 10 Fashion Startups 2016 – Zachary Prell
Zachary Prell offers shirts, coats and outerwear for sports. Also, leather jackets and swimwear. Funding to date, $20 million.
8. Top 10 Fashion Startups 2016 – Warby Parker
Reformation is a clothing company designing limited-edition collections sold in its own boutiques and online store. Funding to date, $12 million.
9. Top 10 Fashion Startups 2016 – Ringly
Ringly offers smart embedded hardware and software in its line of jewellery for women. Funding to date, $6.11 million.
10. Top 10 Fashion Startups 2016 – Chubbies Shorts
Chubbies Shorts offers comfortable, flexible shorts. Funding to date, $5.13 million.
As the graphic at the beginning of the article points out, the investor-backed startup fashion brands are engaging all parts of your wardrobe.
The fashion industry is changing but you don’t have to trust us.
Check those investments once again at the investments and you’ll get the idea. Altogether, the top 10 fashion brands – mentioned above – have raised a combined $650 million in almost 35 deals.
What’s next? Funding in the “See Now, Buy Now” infrastructures, A.I. powered e-commerce platforms, smart labels and the internet of clothes.